Labor productivity refers to the total amount of output a worker produces in some period of time (an hour, a week, a month, a year).

The rate of inflation in the United States since 1960 has:

A. declined steadily and predictably from 14% to 1.3%. B. remained below 1.3% as a result of effective Federal Reserve monetary policy. C. increased steadily from 1.3% to 14% and then decreased steadily back to 1.3%. D. fluctuated between 1.3 and 14%, often catching many people by surprise.

All other things constant, goods will have more __________ demand if their price uses up a __________ proportion of a consumer's budget

a. price-elastic; greater b. unit-elastic; smaller c. price-elastic; smaller d. price-inelastic; greater e. stable; greater